Americans Love Debt Again: Consumer Credit Card Spending Surges by $8.8 Billion

consumer revolving and non-revolving debt surges
Consumers seem to have forgotten their lesson that debt is not their friend. In what might be a positive sign for the economy that consumer spending is increasing, the April data from the Federal Reserve isn’t good news for those who hoped Americans would learn to be more responsible with their personal finances.

The Federal Reserve reported Friday the total amount of consumer credit had increased $26.85 billion to a total of $3.18 trillion, a rate much higher than most analysts had predicted. It was also a large increase from the $19.5 billion increase recorded in March. Those numbers indicate consumer debt is now increasing at a 10.2% annual rate. This is the fastest growth in consum

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2 Responses to Americans Love Debt Again: Consumer Credit Card Spending Surges by $8.8 Billion

  1. I think you’re probably right that this is a negative for consumers as a whole. Although for us personally, we have begun using our rewards credit cards more and reaping more rewards that way! But we always pay it off at the end of the month, which I guess is probably not what most credit card users do.

  2. Marc T says:

    Either you didn’t read the article, or you simply didn’t understand it.

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